It feels like spring is in the air here in St Augustine Florida, even though it is just the beginning
of February. Home Depot is busier than ever with residents starting their Spring projects early this year. Homeowners should estimate the potential change in the value of their real estate versus the cost of specific changes before performing any work. Some upgrades are more advantageous than others in elevating a home’s value. Below is information on St Augustine Florida home repairs that increase home values.
Recommendations on St Augustine Florida Home Repairs That Increase Home Values
Home owners often hope to regain the entire amount of money spent on repairs when they go to sell their property. This is a natural tendency, but unfortunately, it is not supported by what is seen in the marketplace. Different home repairs add different value to a property, and that increased value can vary in different parts of the country. To give you an overview on home repairs that increase home values, below are some national figures.
National Averages for Mid-range Renovations
The figures below are from Remodeling Magazine’s annual Cost vs. Value Report.
|
IMPROVEMENT |
COST |
RESALE VALUE |
AMOUNT OF COST ACHIEVED |
|
ROOF REPLACEMENT |
21,204 |
12,257 |
57.8% |
|
GARAGE ADDITION |
57,824 |
33,089 |
57.2% |
|
BATHROOM ADDITION |
40,096 |
20,455 |
51% |
|
MAJOR KITCHEN REMODEL |
57,494 |
37,785 |
65.7% |
|
ENTRY DOOR REPLACEMENT |
3,536 |
1,990 |
56.3% |
Analyzing Home Repairs That Increase Home Values
Another factor contributing to the value of repairs is whether it is a mid-range or up-scale renovation. Kitchen repairs, for example, can be performed on the low end or the high end and each will lead to a different figure. So, not only should you consider the type of repair but also the amount of money to spend. For a broad list of property repairs, a comparison of mid-range versus high-end projects, and detailed current St Augustine Florida home repairs that increase home values, visit www.costversusvalue.com.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved